Digital Sky Technologies, a Russian investment firm that was an early investor in Facebook, is raising a new $1 billion fund, according to Bloomberg and other reports. The new fund, DST Global III LP, will make non-controlling investments in late stage private internet companies that have a valuation of $500 million or more. DST made headlines in 2009 with a $200 million investment in Facebook valuing Facebook at $10 billion. DST is now leveraging that investment by reportedly contributing $50 million of Facebook stock to the new fund.
Here are links to articles on the new DST fund:
Bloomberg:
http://www.bloomberg.com/news/2012-03-20/facebook-investor-dst-seeks-1-billion-for-new-tech-fund.html
VentureBeat:
http://venturebeat.com/2012/03/21/dst-facebook-stock-1-billion-fund/
Here's a link to the 2990 Facebook press release about DST's investment: http://newsroom.fb.com/Announcements/Facebook-Receives-Investment-from-Digital-Sky-Technologies-c5.aspx
Here are links to articles on the new DST fund:
Bloomberg:
http://www.bloomberg.com/news/2012-03-20/facebook-investor-dst-seeks-1-billion-for-new-tech-fund.html
VentureBeat:
http://venturebeat.com/2012/03/21/dst-facebook-stock-1-billion-fund/
Here's a link to the 2990 Facebook press release about DST's investment: http://newsroom.fb.com/Announcements/Facebook-Receives-Investment-from-Digital-Sky-Technologies-c5.aspx
